Seven Eight Capital LP Sells 134,171 Shares of Coupang, Inc. (NYSE:CPNG)

Seven Eight Capital LP reduced its stake in Coupang, Inc. (NYSE:CPNG) by 39.5% during the 2nd quarter, Holdings Channel reports. The fund owned 205,546 shares of the company’s stock after selling 134,171 shares during the period. Seven Eight Capital LP’s holdings in Coupang were worth $4,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Bain Capital Public Equity Management II LLC bought a new position in Coupang in the 4th quarter valued at about $18,850,000. Nebula Research & Development LLC raised its holdings in Coupang by 220.4% in the 4th quarter. Nebula Research & Development LLC now owns 98,140 shares of the company’s stock valued at $1,589,000 after acquiring an additional 67,509 shares during the period. Kontiki Capital Management HK Ltd. raised its holdings in Coupang by 3.5% in the 4th quarter. Kontiki Capital Management HK Ltd. now owns 8,533,568 shares of the company’s stock valued at $138,158,000 after acquiring an additional 287,000 shares during the period. Tree Line Advisors Hong Kong Ltd. raised its holdings in Coupang by 49.0% in the 4th quarter. Tree Line Advisors Hong Kong Ltd. now owns 2,980,000 shares of the company’s stock valued at $48,246,000 after acquiring an additional 980,000 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Coupang by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock valued at $318,000 after acquiring an additional 2,710 shares during the period. 83.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Coupang

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greenoaks Capital Partners Llc purchased 150,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $22.64 per share, for a total transaction of $3,396,000.00. Following the acquisition, the director now owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. Company insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CPNG shares. Morgan Stanley raised their target price on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Coupang Stock Performance

Shares of NYSE:CPNG opened at $24.24 on Wednesday. The company’s 50 day simple moving average is $21.92 and its 200 day simple moving average is $21.26. The stock has a market capitalization of $43.34 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 171.76 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $24.38.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same quarter last year, the business posted $0.08 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, research analysts predict that Coupang, Inc. will post 0.14 EPS for the current fiscal year.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.